Travel + Leisure Acquires Two Resort Operators for $343M, Adding 100K Owners
TNL sits 32% above its 52-week low of $55.92.
Summary
Travel + Leisure Co. closed the acquisition of Yes& Vacations and agreed to buy Spinnaker Resorts for a combined $343 million upfront, adding over 100,000 owners and 23 resorts in high-demand destinations like Maui and Hilton Head. The deals are immediately accretive to Adjusted EBITDA, EPS, and free cash flow, with full-year EBITDA contribution expected at $50 million including synergies. Funding comes from cash and existing debt capacity, with year-end leverage projected at 3.2x while maintaining share repurchases. This follows a $900 million notes offering in May, signaling an active capital deployment strategy. The Spinnaker closing is expected in Q3 2026; more details will be discussed on the July 22 earnings call.
At the time of this announcement, TNL was trading at $73.55 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $55.92 to $81.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.